This basis of premium involves units of exposure, and the quantity comprising each unit of. exposure is indicated in the classification rates, such as âper personâ. Endurance American Specialty Insurance Company EGL 1305 0606. Page 2 of 5.
DEFINITION of 'Conservatorship' A conservatorship is a situation or circumstance wherein the courts determine that an individual is not capable of overseeing and dealing with legal matters, thus the individual appoints someone else, a conservator, to take care of such matters.
A conservatorship may be ordered when a court determines that an individual is no longer competent to make decisions regarding his own wellbeing, financial and other arrangements. Conservatorships can only be obtained after a hearing before a probate judge who issues a ruling that the person for whom the conservatorship is sought is incompetent.